Ladbrokes profits rise 13%

Fri, 16 May 2008

Ladbrokes has reported a 13% increase in profits for the first four months of the year. The bookmaker says its better-than-expected figures have been buoyed by the success of English football clubs in the UEFA Champions League.

Ladbrokes says there has been "particularly strong growth" in football so far this year, with three English clubs in the Champions League semi-finals and Manchester United and Chelsea contesting a closely fought Premier League.

The interest in football betting coincided with Ladbrokes first television campaign, which features former football stars Ally McCoist and Ian Wright (pictured).

The company says that following encouraging results from bingo and casino advertising campaigns it is intent on accelerating growth through increased marketing.

Online gaming division revenues increased by 24%, with customer sign-ups growing by 27% and revenues from gaming machines at its retail sites rose by 26%, as a result of new machines installed last year, and longer opening hours.